SUPPLY: Facing the Shortage Alone

While gasoline lines are growing longer and local rationing plans are proliferating in the U.S., fears of a disastrous scarcity of oil are fading rapidly in most of the rest of the world. To many Americans, that contrast must suggest the suspicion that the energy crisis is something that is occurring only in America. Unhappily, it is more than a suspicion: the U.S. does in fact seem now to be bearing almost the entire burden of the world oil-supply shortage.

Some figures from the Federal Energy Office sketch the situation. In January, Energy Czar...

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